Halliburton Q3 Beat Doesn't Stir Market, Bank of America Maintains Buy

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Despite instability in key foreign markets plus plunging oil prices, an analyst stayed the course on
Halliburton CompanyHAL
Monday, pointing to its third-quarter earnings growth of 70 percent. Halliburton closed Monday at $52.92, up just 0.6 percent after posting an 8 percent third-quarter earnings beat. The oilfield service company's shares are down more than 20 percent in the past month. But, Bank of America's Douglas L. Becker reiterated a Buy rating on the company Monday, which he thinks is worth $73 a share. Becker said better results during the recent period in North America more than offset the company's ongoing troubles in the Middle East and Asia. Those results also "bode well' for
U.S. Silica Holdings Inc.SLCA
,
Emerge Energy Services LPEMES
and
Hi-Crush Partners LPHCLP
, Becker said. Risks include lower demand, geopolitical upheaval and oversupply, Becker cautioned.
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Posted In: Analyst ColorReiterationAnalyst RatingsBank of AmericaDouglas L. Becker
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